Serum Institute’s Adar Poonawalla Purchases ₹1,400 Crore Mansion in London, Setting New Records

London (The Uttam Hindu): Adar Poonawalla, CEO of the Serum Institute of India, has set a new milestone in the global luxury real estate market by purchasing a historic mansion in London for a staggering ₹1,446 crore. The property, Aberconway House, is located near Hyde Park and has been recognized as the most expensive home sold in London in 2023. This magnificent mansion, built in the 1920s, was previously owned by Dominika Kulczyk, the daughter of Poland's wealthiest industrialist, Jan Kulczyk.

The acquisition, made through Serum Life Sciences, the Poonawalla family's British arm, is expected to serve as both a luxurious retreat and a business hub for the family during their visits to the UK. However, there are no plans for the Poonawallas to permanently relocate to London. Aberconway House has now become the second most expensive home ever sold in the city, following a record-breaking sale in 2020 by Saudi Arabia's former Crown Prince Sultan bin Abdulaziz for ₹19,000 crore.

Adar Poonawalla, who became CEO of Serum Institute in 2011, has led the company to global prominence, particularly during the COVID-19 pandemic, when it produced the Covishield vaccine. His latest investment adds to the growing trend of Indian business tycoons acquiring luxury properties abroad. This acquisition places Poonawalla alongside other notable Indian billionaires like Mukesh Ambani, who also holds substantial real estate assets in London, such as his purchase of Stoke Park in 2020. The Poonawalla family’s purchase highlights the increasing presence of Indian magnates in the international luxury real estate market.